The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Poolbeg Pharma PLC - Clinical-stage biopharmaceutical company targeting diseases with a high unmet medical need - Says Japanese Patent Office has granted its Immunomodulator 2 patent application, with the formal grant to be received in due course. The claims cover the pharmaceutical pharmaceutical composition of POLB 001 for treating severe influenza in a hospitalised patient in combination with antiviral compounds. Additionally, Poolbeg adds that it has received the fully granted patent for Immunomodulator 1.
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EDX Medical Group PLC - Cambridge, England-based company that develops digital diagnostic products and services for the treatment of cancer, heart disease, and infectious diseases - Enters collaboration agreement with Thermo Fisher Scientific EMEA Ltd. According to the deal, both companies will jointly develop and potentially commercialise a number of proprietary qPCR (real-time polymerase chain reaction) assays - including novel and innovative cancer diagnostic solutions. Thermo Fisher’s technologies and information translation systems will be used to deliver a number of advanced testing solutions in development at EDX or licensed from partners, including a proprietary assay to enable personalised radiotherapy, and a novel chemotherapy toxicity assay focusing on serious adverse events.
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Gelion PLC - London-based Anglo-Australian battery storage company - Signs joint development agreement with Ionblox Inc, a California-based next-generation battery technology company. The agreement aims to deliver safe, high-energy density, lower cost lithium silicon sulfur cells for the global electric vehicle, electrical vertical-takeoff-and-landing and drone markets, before progressing to the stationary energy storage market. Together, Gelion and Ionblox will jointly aim to develop high performance, next-generation LiSiS cells.
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Mycelx Technologies Corp - Georgia, US-based clean water and air technology - Receives formal purchase order for the Regen contract, valued at $5.4 million. The order is for the delivery of a Mycelx-produced water treatment system deploying Regen media. Explains that the system will ensure the unnamed producer is able to reliably discharge clean water overboard in compliance with strict environmental regulations. Expects equipment to be operational in the second half of 2024.
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TruFin PLC - London-based financial technology holding company for niche lenders and early payment providers - Says subsidiary, Playstack Ltd, has entered letter of intent to sell intellectual property and assets of its augmented reality and gamification AdTech platform, Interact, to VCI Global Ltd. Notes that whilst transaction terms are yet to be confirmed, any cash consideration is ‘not expected to be significant’ in the context of the wider company. TruFin will provide further updates as appropriate.
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UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Says that the Pinarova joint venture’s order of more powerful seven-inch perforating guns arrived in-country last week via airfreight into Istanbul. The new guns will be deployed over the Germik/Hoya section of the site, where strong oil odours at surface were recorded over a 12-hour period during drilling and mobile light oil was recovered from the mud pit.
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Dunedin Enterprise Investment Trust PLC - Edinburgh-based UK and overseas companies’ investor - Says regulatory approval granted for the realisation of Premier Hytemp, a manufacturer and supplier of engineered metal solutions. The investment in Premier Hytemp is held via DENT’s interest in Dunedin Buyout Fund II LP. As of September 30, Dunedin’s investment in Premier Hytemp was valued at £4.9 million. Following this realisation, it has remaining unlisted investments valued at £7.8 million, cash balances of £23.3 million, and other net assets of £2.9 million. Explains that the board and its advisers are exploring whether to wind-up the company and return cash to shareholders, including the proceeds of the Premier Hytemp realisation, by way of a members’ voluntary liquidation. Any such winding-up would require shareholder approval and a further announcement will be made in due course.
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Trident Royalties PLC - Mining royalty company - Says all pre-conditions to the Antler Royalty acquisition in the binding acquisition agreement have now been satisfied and that completion has occurred. Previously announced an agreement to buy a 0.9% net smelter return royalty over New World Resources Ltd’s Antler copper project in Arizona, US, for a total consideration of A$11.0 million.
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